Zaif is a Japanese centralized cryptocurrency exchange (CEX). It was one of the first cryptocurrency exchanges to receive an operating license from the Japanese Financial Services Agency (JFSA). As of September 2018, it was ranked as the 9th largest cryptocurrency exchange (by turnover). However, on September 35, 2018, the exchange's hot wallet was hacked, and the equivalent of $9 million in cryptocurrency was stolen.
Following the incident, Zaif suspended operations and reached a rescue agreement with Japanese brokerage firm FISCO, which injected 50 billion yen ($4467.5 million) in financial aid to the company. In November this year, the company was sold to FISCO Digital Asset Group Co. Ltd.
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